Financial Calculator Update 6/30/2026

Overview

The June 30th update for 2026 is limited to minor fixes and enhancements. This update is optional unless you have received instructions from us or have one of the calculators specifically affected. All updates are cumulative; by skipping this limited update, any changes to your package will be included in the next update. To view the previous update package please see Calculator Update 3/31/2026.

Update Instructions

1. Download the latest version of your calculator update from your download site, found on your update email notice.
2. Run the update package (KJECalc.exe). This is a self-extracting zip file. (Or unzip the KJECalc.zip file if you are using a non-Windows platform.)
3. When prompted for a directory, you may use the default or enter your own. It is recommended that you extract the update to a new directory and then move the required files to your production environment. One directory will be created with no subdirectories.
4. Copy the new files to your current deployment, replacing files with identical file names with the new ones.

If you wish, you can download the full calculator package from the same location and refresh all files provided by KJE for your calculators. This package includes any site-specific changes done for you by KJE, but will not include any customizations by you or your web developers. Please contact us if you have questions. If you are experiencing format issues, or it has been more than a year since you installed an update package, it is recommended you use the full installation package.

Master Changes (affects all V3 calculators)

1. ADA and Screen Readers: Continued improvements to ADA and screen reader functionality are included in this update to meet or exceed accessibility specification WCAG 2.1 Level AA and Section 508.
2. Scrolling improvement for hosted calculators: Calculators that use our hosting service use iFrames to embed the calculator content into your website. This package provides improvements for screen resizing and scrolling. It also includes enhancements for turning off new features introduced previously. If you have any scrolling issues with your site, please contact us for a quick review to resolve these issues.

Calculator Specific Updates

1. 72(t) Calculator: Early withdrawals from retirement accounts (Retire72T.html, Retire72T2.html), 72(t) Distributions: Impact on retirement fund balances (Retire72TAlt.html): The Federal Mid-Term rate has been updated for July 2026. For July 2026, 120% of the Federal Mid-Term rate 5.23%.
2. Tax calculator definitions: The tax calculator definitions have been updated to improve readability and address a few minor typographical errors. The most significant change were improved definitions for the One Big Beautiful Bill Act rules for charitable deductions (both itemized and non-itemized).

   For calculators that can calculate itemized deductions the new definitions now are as follows:

   Gifts to charity (cash)

   Enter your total gifts of cash to qualified charitable organizations (check, credit card, actual cash, payroll contributions or 'texted' contributions include on your phone bill). If you itemize on Schedule A, the rules allows you to deduct up to 60% of your Adjusted Gross Income (AGI). The One Big Beautiful Bill Act introduced a .5-percent floor on the deduction of charitable contributions made by individuals who elect to itemize, there is no benefit up to the floor. For taxpayers who do not itemize there is a deduction of up to $1,000 ($2,000 for married filing jointly) for certain charitable contributions that is not subject to a floor, and limited to cash donations made directly to eligible institutions.

   Beginning in tax year 2026, for filers that choose to use the Standard Deduction, up to $1000 ($2000 for Married filing jointly) of qualified cash donations can be used to reduced their Adjusted Gross Income (AGI). In addition, the One Big Beautiful Bill Act reduces the deduction of itemized charitable contributions. Starting in 2026, itemized charitable contributions are reduced by 0.5% of your Adjusted gross income (AGI). For example, if you had an AGI of $100,000, your first $500 of charitable contributions would not to count toward your allowable itemized deduction. If you itemize and your charitable contributions are less than 0.5% of your AGI you receive no tax benefit from your contributions.

   Gifts to charity (non-cash)

   Enter your total gifts of non-cash to qualified charitable organizations. The amount should be the fair market value of those gifts, not the amount originally paid. Note that non-cash donations do not qualify for a tax deduction unless you itemize your deductions on Schedule A and you choose to use your Schedule A Itemized Deductions rather than your standard deduction. In addition, most non-cash gifts are limited to 50% of your Adjusted Gross Income (AGI) minus your total cash gifts. This calculator will limit your gifts to 50% of your AGI minus your cash gifts when calculating your taxes. It is beyond the scope of this calculator to calculate the special situations that may have different deductible limitations. You may include amounts in this line that were not allowed on previous year's Schedule A due to the AGI limitation but the total will remain limited to 50% of your AGI minus cash gifts.

   The One Big Beautiful Bill Act reduces the deduction of itemized charitable contributions. Starting in 2026, itemized charitable contributions are reduced by 0.5% of your Adjusted gross income (AGI). For example, if you had an AGI of $100,000, your first $500 of charitable contributions would not to count toward your allowable itemized deduction. If you itemize and your charitable contributions are less than 0.5% of your AGI you receive no tax benefit from your contributions.

   For calculators that do not calculate itemized deductions but allow entry of a cash donation to charity:

   Gifts to charity (cash)

   Enter cash donations (check, credit card, actual cash) to qualified charitable organizations. The One Big Beautiful Bill Act introduced a .5-percent floor on the deduction of charitable contributions made by individuals who elect to itemize, there is no benefit up to the floor. For taxpayers who do not itemize there is a deduction of up to $1,000 ($2,000 for married filing jointly) for certain charitable contributions that is not subject to a floor, and limited to cash donations made directly to eligible institutions.